What is Project Proposal

Project proposal is a document which is designed to represent the proposal, the origination of that proposal, benefits of the proposal. The reason for representing these things is to convince the reader to agree with the proposal. In other words, you are asking a decision-maker to invest a resource, (time or money or both), so that the project you propose can be completed. The main purposes and objectives of project proposal are:-

Purpose and Objectives:

What will the project accomplish? What are the objectives and are they measurable? Why are we considering it?

This preparation of this document needs very logical mind so it is usually prepared by those people who have intelligent and innovative minds. A project proposal is written, to make an offer and to try to convince a supervisor or a future customer to accept it. Therefore, it is crucial that your proposal answers questions your readers may have about what you propose to them. For example, the most important question your proposal readers will want answered is how does your proposal relate to them? In other words, what problems will it solve, what need will it address, and why is it important to them? Secondly, your proposal readers would like to know exactly what you are proposing to make or do, and how it relates to the problem you are describing.

Project proposal should cover following parts:-

Executive summary:a project proposal star with executive summary. This is the most important part as it helps in seeking luring potential investors. It should briefly talk about the company, the service or products offered, key personnel, and how much money will be needed and what will be used for. An executive summary can make or break a business plan, so executive summary should be packed with excitement and energy about model. Table of contents: – the executive summary should be followed with a table of contents. This outlines each section of the project report and appendices. An Introduction: which provides more complete background of the project than the Executive Summary, and which indicates your knowledge of the organization, the current situation existing in the organization, and the problem itself. Goals and objectives: – in this section the short-term, long-term goals of a company are specified and ideas are presented how these goals are to be achieved. Resources needed for it are also described. Team Organizational Structure:-This section provides a summary of the group’s qualifications for the project. Identify key personnel and describe directly related education and experience. Also include each member’s responsibility for the duration of the project. An organizational chart to identify the specific areas of responsibility of each team member may be appropriate. Exit strategy:- this section should be targeted towards his venture capitalists, essential explaining how you will help them in getting their money back-plus lots and lots of profit, of course.

Project proposal is an operating document and it serves as a roadmap to reach the destination determined by the entrepreneur.